BCDA 2015 remittance rises 25% to P4B

THE State-run Bases Conversion and Development Authority (BCDA) remitted P4 billion to the Bureau of the Treasury last year, up 25 percent from P3.2 billion in 2014.

The amount represents the national government’s (NG) dividend share and the share of government beneficiary agencies from the BCDA’s asset disposition proceeds and payment of other obligations to the NG.

BCDA President and CEO Arnel Paciano D. Casanova said the remittance is proof of the solid and consistently strong performance of the BCDA in generating billions of pesos for the government.

“The increase was due to successful business ventures, resolution of some problematic accounts with the private sector, more efficient collection and management of contracts, as well as good financial housekeeping. In effect, it’s good governance translating to good economics,” Casanova said.

The BCDA remitted P2.112 billion in 2010, P2.317 billion in 2011, P2.738 billion in 2012, and P2.207 billion in 2013.

Of the P4 billion remittance to the government, Casanova said P3.47 billion came from the share of several government beneficiaries from the proceeds of existing joint venture and lease agreements and assets disposed in 2015. The balance came from dividends, guarantee fees, and return of initial capital contribution to the NG under the BCDA Charter.

Under Republic Act 7917 and Executive Order 309, proceeds from the disposition of the former military camp Fort Bonifacio—now called Bonifacio Global City —and the former Villamor Air Base —Newport City—are to be shared with government beneficiaries.

The Armed Forces of the Philippines got the bulk of P3.392 billion, while other government beneficiaries received P71.905 million. The remaining P6.936 million went to the local government units (LGUs) of Taguig, Pateros and Makati.